Events to watch out for today:
15.30 Moscow time. USA: Change in retail sales for May.
17.00 Moscow time. USA: Fed Chairman Jerome Powell will deliver a speech to Congress.
Forex forecast EURUSD for today 06/16/2020
The main event of the day will be the speech of the head of the US Federal Reserve in Congress. On the eve of the Federal Reserve announced the redemption of corporate bonds in the amount of $ 75 billion. For the market, this was a pleasant surprise, which caused the sale of the dollar against most competitors. Today, the head of the Fed may declare that the Central Bank is ready to control the “yield curve of bonds” if necessary. In short, the Fed is ready to increase the repurchase of assets. Will such a need be needed in the future? In my opinion, yes. As bond yields will continue to grow as the quarantine caused by the COVID-19 pandemic ends. A few words should be said about the coronovirus itself. A few days ago, one of the leaders of WHO, Maria Van Kerkkhov, who stated that asymptomatic carriers do not distribute COVID-19. But it was precisely the asymptomatic spread that was the only reason for the introduction of quarantines practically all over the world. What does it turn out: they lied to us, but did we believe? WHO says they erred in their initial conclusions. Now it becomes clear why many countries are quickly removing restrictions, despite the high number of patients with COVID-19. What do we have in the dry residue? Additional money supply from the Fed will negatively affect the value of the dollar. What do we have in the dry residue? Additional money supply from the Fed will negatively affect the value of the dollar. What do we have in the dry residue? Additional money supply from the Fed will negatively affect the value of the dollar.
EURUSD recommendation: Buy 1.1325 / 1.1300 and take profit 1.1389